Emulex (ELX) outdid Wall Street's expectations and its own recently boosted guidance for its third quarter, the storage networking equipment maker said after the bell Thursday.
The company posted record revenue of $102.6 million, up 4% from last year, and well above its original guidance of $91 million to $93 million. Net income was $17.78 million, or 20 cents a share, compared to $14.3 million, or 16 cents a share, a year ago.
Excluding items, the company would have made a profit of 25 cents a share.
Earlier this month, the Costa Mesa, Calif., company said it expects to report revenue of about $101 million to $102 million and earn a non-GAAP profit of 23 cents to 24 cents a share.
Analysts polled by Thomson First Call were expecting a 23-cent profit on sales of $101.37 million.
Looking to the fourth quarter, Emulex said it expects revenue to range from $103 million to $108 million. Non-GAAP earnings will be 24 cents to 25 cents a share. Wall Street was expecting sales of $102.42 million and a 23-cent profit.
The stock was up 9 cents after hours to $17.26; it closed the day with a gain of 96 cents.